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Business
Dec 7-11, 1998 / Azar 16-20, 1377

News | Sports | Arts | Rights | Community

Today

* Iran condemns attack on Americans
* Shell drops plans for pipeline across Iran
* Iran delays oil opening plans amid price gloom

Previous

* Bazaari leader attacks Khatami
* Azerbaijan raises protest over Iranian oil field exploration
* Battle rages over pipeline's price tag
* Parliament puts off petrol price debate
* Russia hails nuclear deal with Iran
* Iranian firms in oil price slump
* Iran denies violating pledged oil output cuts
* Parliament to consider rejecting petrol price hike
* Half of Iranians eating more than they need: official
* Iran cut from U.S. list of drug countries
* Total may export Caspian oil through Iran
* Iran, Saudi seek closer ground on OPEC action

News | Sports | Arts | Rights | Community


Monday | Tuesday | Wednesday | Thursday | Friday


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Iranian Trade Association


$ Rate

Updated December 11, 1998

* To send money to Iran, the rate is 691-708 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 713 tomans per dollar.

Source: Sehaty Foreign Exchange. Preferntial rates for readers of The Iranian Times. Call in U.S.: 602-595-0777 OR 500-288-8881, Fax: 602-595-0222. Address: PO Box 3230, Carefree, AZ 85377, USA. Mention this code: BAJ 07


Friday,
December 11, 1998

* Iran condemns attack on Americans

TEHRAN, Iran (AP) -- Iran's hard-line speaker of Parliament said Thursday that last month's attack on a group of American visitors was ``inappropriate,'' according to the official news agency. Ali Akbar Nateq-Nouri's comments marked the first against the Nov. 21 attack from a conservative within Iran's ruling clerical hierarchy. He added, however, that a failure to explain the visitors' purpose had provoked ``suspicion'' about the delegation ... FULL TEXT

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* Shell drops plans for pipeline across Iran

December 10, 1998, (JOURNAL OF COMMERCE STAFF) - Royal Dutch/Shell has quietly dropped plans to build a controversial gas pipeline across Iran, ending one of the biggest threats to U.S. sanctions policy in the last three years. Shell's interest in a trans-Iran project to carry gas from Turkmenistan to Turkey has dogged U.S. efforts to isolate the Islamic Republic and keep it from controlling sensitive energy routes ... FULL TEXT

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* Iran delays oil opening plans amid price gloom

LONDON, Dec 11 (Reuters) - Iran has had to delay application deadlines for almost all its new oil investment opportunities as sliding prices threaten to derail its historic energy opening. From an original November 30 deadline Iran has now pushed the submission date back to December 22 for some projects and as far back as February 13 for many others, industry sources said on Friday. The move is a blow for Iran's tender of over 40 exploration and production prospects, its biggest energy opening since the 1979 Islamic revolution ... FULL TEXT

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Thursday
December 10, 1998

* Bazaari leader attacks Khatami

TEHRAN, (Hamshahri) - Habibollah Asgarowladi head of a right-wing group with strong ties with the bazaar launched a direct attack on President Khatami ... FULL TEXT IN PERSIAN

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* Azerbaijan raises protest over Iranian oil field exploration

BAKU, Dec 10 (AFP) - Azerbaijan's foreign ministry on Thursday protested Iran's intention to conduct oil field exploration with foreign oil companies in waters Baku considers within its territory. According to a ministry statement, Tehran is planning to sign on Monday an agreement for seismic surveying in the Caspian with Dutch multinational Royal Dutch/Shell and British oil company Lazmo.

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* Battle rages over pipeline's price tag

ISTANBUL - The political and commercial fight over the future of the vast Central Asian oil reserves will be highlighted this week in the Azerbaijani capital of Baku on the Caspian Sea. Negotiations begin there today among the Turkish, Azerbaijani, and Georgian governments over plans they hope will lead to the construction of a massive oil pipeline linking the Caspian fields to the Turkish Mediterranean port of Ceyhan ... FULL TEXT

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Wednesday
December 9, 1998

* Parliament puts off petrol price debate

TEHRAN, Dec 9 (Reuters) - Iran's parliament on Wednesday postponed debating a bill to limit a government-proposed increase in the price of petrol. The bill requires the government to restrict petrol price rises to about 20 percent in the next Iranian year starting in March. The government, facing huge costs for fuel subsidies, has proposed keeping petrol prices at 200 rials (6.7 U.S. cents) a litre for the first 45 litres bought each month and charging consumers 750 rials a litre for additional quantities ... FULL TEXT

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* Russia hails nuclear deal with Iran

MOSCOW (AP) -- Dismissing U.S. concerns, Russia's top nuclear official said Wednesday that Moscow would go ahead with a project to build a nuclear reactor in Iran, but won't hand over weapons technology. Russia signed an $800 million deal with Iran in 1995 to help build a 1,000-megawatt light-water reactor at the country's Bushehr power plant. Last month, Iranian officials asked Moscow to conduct a feasibility study for building another three reactors at the same site ... FULL TEXT

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* Iranian firms in oil price slump

DUBAI, December 9, 1998 (BBC) - With a barrel of oil fetching less than half of what it did at its peak last year, Iran's economy has been devastated. But the knock-on effects of the economic crisis caused by historically low oil prices have reached out across the Gulf to hurt Dubai's Iranian business community. According to the spokesman for the Iranian Business Council in Dubai, Mohammed Massinaei, turnover amongst Iranian companies here has slumped to just half what it was a year ago ... FULL TEXT

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* Iran denies violating pledged oil output cuts

DUBAI, Dec 9 (Reuters) - OPEC member Iran on Wednesday denied reports that it was not complying with the cartel's oil production cuts pledged this year. ``Some published allegations that Iran was not complying with its pleged cuts are simply not true. Historically Iran has always adhered to its allocated share of production which is confirmed by most secondary sources,'' said Ali Gharani, head of OPEC and energy affairs at Iran's Ministry of Petroleum... FULL TEXT

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Tuesday
December 8, 1998

* Parliament to consider rejecting petrol price hike

TEHRAN, Dec 8 (AFP) -Iran's parliament, dominated by religious conservatives, voted Tuesday to consider legislation preventing a proposed government increase in the price of domestic petrol. A total of 125 of the 200 MPs who attended Tuesday's session voted for parliament to "urgently" consider the motion introduced by conservative deputies, who hold a majority in the legislature. Parliament, whose debate was broadcast live on radio, will discuss the proposal to shelve the controversial price rise in detail on Wednesday. The government's proposed price rises are part of a strict austerity budget for the coming Iranian fiscal year which aims to cut spending and some government subsidies.

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* Half of Iranians eating more than they need: official

TEHRAN, Dec 8 (AFP) -Roughly half the Iranian population eats more than it needs while some 20 percent goes underfed, an Iranian official claimed Tuesday. "People's eating habits simply must change," said Mahmud Asgari, a senior official in Iran's state budget planning organisation. He said Iranians consume on average some 3,200 calories a day, about 40 percent more than the world average. Asgari said the figure was "startling" and placed the blame on government subsidies for basic foods such as bread and milk, part of a social commitment to lower income groups.

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Monday
December 7, 1998

* Iran cut from U.S. list of drug countries

WASHINGTON (Reuters) - The United States said Monday it had removed Iran and Malaysia from its annual list of sources of illegal drugs, but said the two nations still bear watching. Iran's progress was welcomed by the White House as a ''positive'' step, but officials said the decision to remove it from the list was unrelated to a slow thaw in U.S.-Iranian relations under Iranian President Mohammad Khatami ... FULL TEXT

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* Total may export Caspian oil through Iran

BAKU, Dec 7 (Reuters) - French oil company Total is considering pumping crude oil from its Caspian basin projects in Azerbaijan to world markets through Iran, a senior company official said on Monday. Patrick Lantigner, Total's resident representative in Azerbaijan, told a news conference in Baku that Total was considering forming a consortium to fund and build a possible pipeline through Iran... FULL TEXT

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* Iran, Saudi seek closer ground on OPEC action

DUBAI (Reuters) - OPEC powers Iran and Saudi Arabia, anxious over collapsed oil prices, are exerting fresh efforts to align their views on ways of rescuing the petroleum market, sources close to the consultations said Sunday. ``There have been more consultations lately and Iran is ready to back any step that will help the oil price,'' Mohammed Reza Nouri, Iran's ambassador to Saudi Arabia, told Reuters... FULL TEXT

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